The proceeds of the round will go towards funding the company’s organic growth such as investments in proprietary technology, digital capabilities for business partners and end consumers as well as talent across bolttech’s 30+ markets. In addition, the funds will be used to explore inorganic opportunities to accelerate international growth.
Insurtech company bolttech is now valued at US$1.6 billion ($2.14 billion) after raising US$196 million in its Series B round. The amount is said to be the largest straight equity Series B for an insurtech company in the last year.
The round was led by Japanese insurance company Tokio Marine. Other investors involved in the round include insurance group MetLife’s subsidiary MetLife Next Gen Ventures, Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders.
